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From Flying to Crouching Dragon 10/15/20

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Then a wide angle look with the 2 hour bars - Click to view full size.  A drop to 3410 would be a return to the top of the base from which the rally emerged. That's not yet bearish in the bigger picture. 


A ton of Fed cash hit the dealer accounts yesterday from the first and largest Fed's regular monthly MBS purchase settlements. I keep you informed on that in advance at Liquidity Trader


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Bottom line. I would not bet on big follow through on this selloff today. The dippers should show, as usual. They'll start nibbling around 10:30 if the usual patterns hold up. As for whether that's from around 3440 or 3410, pick em. I don't know. But if they blow out 3435, then I'd look for 3410. 

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But I am short one horseshit REIT. 

They are all going bust. Probably more Merkans have retirement funds in REITS for income than any other investment class. They are gittin killed as always. Wall Street takes no prisoners. 


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